This pump is not sustainable.

[Balle1912]

No it is not sustainable, nothing like this is. But I think we still have a quite a way to go up. (I hold very little BTC btw)

If the price does not rise to $1200 in the next two weeks and consoidate here, then it is very sustainable.

Not going to happen, can guarantee it. I don't think todays drop is the end of it though, think we have some more to go up before a crash.

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[craked5]

The textbook brutal correction is in. Over 20% wiped from the Chinese exchanges within 1 hour.

Burning question now, is whether 'they' power Bitcoin up for one final nosebleed rocket up, or whether she puts in a double top here.

Interesting to watch.

I don't think there is some kind of dubious manipulation here.
Behind each drop or pump there isn't always some kind of powerful companies/miners making plans.
It's also just the market laws. Fact is that we reached a very high price, nearly the all times high price. So obviously people who holded bitcoin for a long time all wanted to take profit here. I was part of that and sold some even though I believe it will continue to rise. Simply because it's the best possible time to sell.
We won't go through the 1200 easily. It will take times, maybe years I don't know.
But I think the current position is stable, just because there is no reason for a huge drop.

[RobertDeNiro]

Looks like the op was correct. I hope you shorted on your idea and made a fortune.

[angaper]

The textbook brutal correction is in. Over 20% wiped from the Chinese exchanges within 1 hour.

Burning question now, is whether 'they' power Bitcoin up for one final nosebleed rocket up, or whether she puts in a double top here.

Interesting to watch.

I don't think there is some kind of dubious manipulation here.
Behind each drop or pump there isn't always some kind of powerful companies/miners making plans.
It's also just the market laws. Fact is that we reached a very high price, nearly the all times high price. So obviously people who holded bitcoin for a long time all wanted to take profit here. I was part of that and sold some even though I believe it will continue to rise. Simply because it's the best possible time to sell.
We won't go through the 1200 easily. It will take times, maybe years I don't know.
But I think the current position is stable, just because there is no reason for a huge drop.

Yes, it is true that an obvious market correction was expected after that strong pump. But I don't think that unexpected rally was generated by ordinary market rules. I am really convinced that is was strongly manipulated so it would not be strange that the $1200 mark is reached in next days. I would prefer to stay away from any market decision these days.

[btcmerich]

Well done OP, pointing it out 2 days before the big down trend. Alot of people made fun of the OP  calling him  newb

we will see slow downtrend down to 750 or even 650 . We might see 500 USD again soon

[fuckingidiot350]

for anyone who has traded fx this kind of brutal correction is just normal and expected

no doubt the same whales dumping on bitcoin are also trading the other fx pairs since the pattern of dumps is exactly the same.


by the way i was surprised the rally ended so quickly, was expecting it to go way past $2,000. makes me think whoever made the initial dump of $ 1150-900    is probably quite stupid to do it so early.  either that or something fishy is going on

[WillMitchell]

Nanny nanny poopoo. I was right and most of you were wrong. I dont know how you guys thought that was sustainable but it clearly was not and I was right all along. Thank god I hdged my selling with some shorts and cleaned up on that dump.

Not time to redistribute and then march back up to all time highs.

[Shiroslullaby]

we will see slow downtrend down to 750 or even 650 . We might see 500 USD again soon

500 seems a little low.
I wouldn't be surprised at a dip to the $750-800 range but losing 50% value seems a little drastic.

[SvenBomvolen]

It cant continue like this, mostly because I need to buy back in lower then I sold $1000 and also because its charts is just going straight up. This is insane.

   Its like you said in headline, pump obviously is not sustainable. Insane or not its what we have, with bitcoin history this is what we had to expect, but our hope is blinded us. You chose good moment to sell, and probably you will grow your bitcoins with that shorting. I dont do this kind of things, I keep my coins always safe.
   

we will see slow downtrend down to 750 or even 650 . We might see 500 USD again soon

500 seems a little low.
I wouldn't be surprised at a dip to the $750-800 range but losing 50% value seems a little drastic.

   That is not drastic, that is completely insane. If bitcoin lose 50 % of its value that will be big alarm for almost everyone who have bitcoin. That would be real shock for me also.

[manselr]

What kind of moron shorts this?

In the past the peaks have always been marked with wildly fluctuating prices. At this time we are not there yet.

Hey it's George Soros itself, you are the master of shorting, did you short the last big correction?

Im sure a lot of people did a lot of money in this correction, but I have big doubts about the price going anywhere lower than what we have now, maybe a further dip to 700 maximum but why would anyone risk losing your position. I think the shorting it's over, now it's all time to buy and hold for the next mega pump that's inevitably coming soon.

[WillMitchell]

Its in a tricky spot now, its gotta build a solid floor at 890-900 or its coming back down to $700.

[Przemax]

Its not that it was sustainable or not. Its only that it looked fishy and faky. Everyone caught into believing it are feeling nervous and ashamed a bit. You can look now how a price action behaves now. Its extremely erratic nervous choppy moves up and down. Its really hard to trade let alone predict what future will bring. I think it will just fluctuate around 900 more like above that range.

[cryp24x]

Well done OP, pointing it out 2 days before the big down trend. Alot of people made fun of the OP  calling him  newb

we will see slow downtrend down to 750 or even 650 . We might see 500 USD again soon

It seems Bitcoin is quite strong at $850 to $930.  It plays along that range for sometime now.  Some people are also accumulating at this phase.  Maybe whales too, or probably a group of people. 

we will see slow downtrend down to 750 or even 650 . We might see 500 USD again soon

500 seems a little low.
I wouldn't be surprised at a dip to the $750-800 range but losing 50% value seems a little drastic.

I agree 500 seems a little low but there is a big possibility for Bitcoin to drop down to $750.  Anyway, i think better to see the next price trend of bitcoin in the next day.

[philipma1957]

it is not dropping it is going back over 1500 before april 1st.

BTW  I sold some at 1000 and some at 1100 and some at 1125.

I also purchased some back at 875.


If it goes under 800 I will buy more.  But the trend should be to 1500-1600 in April.

[WillMitchell]

it is not dropping it is going back over 1500 before april 1st.

BTW  I sold some at 1000 and some at 1100 and some at 1125.

I also purchased some back at 875.


If it goes under 800 I will buy more.  But the trend should be to 1500-1600 in April.

I have seen many people talk about April like its the holy month for bitcoin but I don't understand why and now you are saying April the 1st. What's so special about April dude.

[mitkala]

it is not dropping it is going back over 1500 before april 1st.

BTW  I sold some at 1000 and some at 1100 and some at 1125.

I also purchased some back at 875.


If it goes under 800 I will buy more.  But the trend should be to 1500-1600 in April.

It is possible to go to $1500 before April. The price is already $1200.

[valta4065]

Damn who the hell can handle the shorts? xD

I'm really impressed by people actually earning money during the corrections
I can't predict shit concerning them, just too hard

What I see is that it's time for hoooooooooooooooooooold

[cellard]

You must be new..

Not new enough to not see whats going on. The crash is coming and its coming very soon.

Meanwhile Bitcoin is confidently staying $1000+ and hitting all time highs. Sorry for your loss, doubters will keep getting destroyed as bitcoin grows. Any further dips are further opportunities for panic sellers to buy back in.

If the ETF gets finally passed it will be insane, $2000 is on sight.

[South Park]

You must be new..

Not new enough to not see whats going on. The crash is coming and its coming very soon.

Meanwhile Bitcoin is confidently staying $1000+ and hitting all time highs. Sorry for your loss, doubters will keep getting destroyed as bitcoin grows. Any further dips are further opportunities for panic sellers to buy back in.

If the ETF gets finally passed it will be insane, $2000 is on sight.

Let’s not get ahead of ourselves bitcoin is growing and I expect a big rally but to say the 2000 price is on sight is not right, I think we may reach 1350 or something like that, soon then we will see a small dump by the ones that want to cash out and after that bitcoin may reach 1500 but 2000 is too much.

[Eugenar]

You must be new..

Not new enough to not see whats going on. The crash is coming and its coming very soon.

Meanwhile Bitcoin is confidently staying $1000+ and hitting all time highs. Sorry for your loss, doubters will keep getting destroyed as bitcoin grows. Any further dips are further opportunities for panic sellers to buy back in.

If the ETF gets finally passed it will be insane, $2000 is on sight.

Let’s not get ahead of ourselves bitcoin is growing and I expect a big rally but to say the 2000 price is on sight is not right, I think we may reach 1350 or something like that, soon then we will see a small dump by the ones that want to cash out and after that bitcoin may reach 1500 but 2000 is too much.

That is right. We need to achieve the 1350 first. That could be possible in the next 3 months.